In response to foreign tariffs and “other forms of cheating,” President Donald Trump has labeled the punishing tariffs he announced on Wednesday as “reciprocal.” These new levies apply to imports from numerous countries, including long-time allies and those with minimal trade. The tariffs are calculated by dividing the U.S. trade deficit with a country by U.S. imports from that country, with the result halved—at least 10%. Economists caution that these taxes will burden American consumers, and foreign nations are swiftly reacting with potential countermeasures.
Here’s an overview of the countries facing the largest tariffs:
- Lesotho faces a 50% tariff, with the U.S. primarily importing garments, diamonds, and agricultural products.
- Saint Pierre and Miquelon, with a 50% tariff, relies on fishing exports to sustain its economy.
- Cambodia’s 49% tariff will impact its exports, particularly apparel to the U.S.
- Laos’ 48% tariff applies to electronics, cellphones, and household goods exports.
- Madagascar’s 47% tariff will affect its exports of apparel, vanilla, and precious metals.
- Vietnam’s 46% tariff challenges its exports of high-tech goods and textiles.
- Myanmar’s 44% tariff is complicated by ongoing economic sanctions.
- Sri Lanka’s 44% tariff impacts its recovering economy and apparel exports.
- The Falkland Islands and Syria face a 41% tariff, affecting their sheep farming and economically restricted exports, respectively.
- Mauritius faces a 40% tariff, with top exports including textiles and garments.
- Iraq’s 39% tariff mainly affects its crude oil exports to the U.S.
- Guyana’s 38% tariff is significant for its oil exports.
- Bangladesh’s 37% tariff will affect its ready-made garment exports.
- Botswana’s 37% tariff is largely based on its diamond exports.
- Liechtenstein’s 37% tariff reflects its export-oriented economy with diverse industry contributions.
- Réunion’s 37% tariff is influenced by its food product exports.
- Serbia’s 37% tariff impacts its automotive and agricultural exports.
The tariffs also target countries such as Thailand, Bosnia and Herzegovina, and China, with China facing a 34% tariff as part of an ongoing trade dispute, potentially raising tariffs to as high as 76%.
Source: https://time.com/7274194/trump-reciprocal-tariffs-highest-country-rates-calculation-math-imports-exports/
